The president and chief operating officer of Clayton-based educational technology company Nerdy Inc. (NYSE: NRDY) has departed from his roles with the firm.
Ian Clarkson stepped down as Nerdy’s president and chief operating officer, effective May 13. Nerdy announced Clarkson’s exit earlier this month when it released its first-quarter financial results.
Nerdy, which became a publicly traded company in September 2021 through a merger with a special purpose acquisition company, provides an array of online tutoring and learning products. It is the parent company of Varsity Tutors, which was launched by Nerdy CEO Chuck Cohn while he was a student at Washington University.
While leaving his roles as president and COO, Nerdy said Clarkson will remain with the company as a consultant and adviser through Feb. 13, 2023, to assist with the transition of his former responsibilities. As part of that consulting agreement, Clarkson will receive a consulting fee that equals his base salary, Nerdy said. Clarkson had a salary of $551,848 in 2021, according to a regulatory filing.
Clarkson joined Nerdy as its president and COO in January 2016, having most recently been COO of Sears Home Services. Prior to that, he worked for 15 years at e-commerce giant Amazon.
In a May 16 earnings call with analysts, Cohn thanked Clarkson “for his many contributions to the growth of Nerdy, including helping us go public this past September.”
“He’s been a key member of our leadership team,” Cohn said. “He’s played an important role scaling the company. He’s helped us develop a strong team, including at the executive level that has set the company up for continued success for many years to come.”
Nerdy reported first-quarter revenue of $46.9 million, which the company said was a quarterly record. During the May 16 earnings call, company executives said they expect second-quarter revenue below Nerdy's first-quarter total, projecting revenue of from $37 million to $40 million. While reporting its first-quarter financials, Nerdy also lowered its full-year revenue guidance, saying it anticipates 2022 revenue of between $160 million and $175 million, down from a prior guidance of $196 million to $200 million. Nerdy had 2021 revenue of $140.7 million.
